TD Ameritrade vs Ally Invest

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TD Ameritrade vs Ally Invest is an excellent comparison of two top-notch online stock brokers with a diverse range of investment and online banking products.

To sum it up, Ally Invest is the less expensive version of TD Ameritrade. Trade commissions are lower, margin rates are lower, customer service is still 24/7, and bonds, futures, forex, and high-yield CDs are all available to purchase and trade. We recommend Ally over TD Ameritrade simply because you’ll get a similar investment experience for a fraction of the cost.

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Company Ratings

TD Ameritrade

Ally Invest

Overall

Commissions & Fees

Customer Service

Trading Platforms

Mobile App

Overall Ease of Use

Promotion Value

N/A

N/A

Fees

TD Ameritrade

Ally Invest

Minimum Deposit

$0

$0

Stock Trade Fee

$6.95

$3.95 to $4.95

Options Ticket Charge

$6.95

$3.95 to $4.95

Options per Contract Fee

$0.75

$0.50 to $0.65

Mutual Fund Fee

$49.99

$9.95

Market Data Fee

Free

Free

Wire fee (outgoing)

$25

$20

Inactivity fee

None

None

Investments

TD Ameritrade

Ally Invest

Stocks

Options

Futures

Forex

Bonds

OTC Stocks

Penny Stocks

Options on Futures

Crypto

Mutual Funds

12,541

10,264

International Trading

Advisor Services

Trading Platforms

TD Ameritrade

Ally Invest

Web-based

Mobile App

Downloadable (Mac)

Downloadable (PC)

Real-time Level II data

Real-time Charting

Historical Option Data

Options Analysis

iPad App

Company Info

TD Ameritrade

Ally

In-person Branches

Customer Service hours

24/7

24/7

Sum of Client Balances

Trillions

$150bn+

Member FDIC

Savings Account

Checking Account

Free Online Banking

Margin Rates

TD Ameritrade

Ally Invest

Under $24,999

9.75%

9.25%

$25k-$49,999

9.50%

9.00%

$50k-$99,999

8.50%

8.25%

$100k-$249,999

8.25%

7.00%

$250k-$499,999

8.00%

6.00%

$500k-$1M

8.00%

5.50%

Above $1M

7.25%

4.75%

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One of the main differences between TD Ameritrade and Ally Invest is that Ally Invest doesn’t have any in-person branches. This is a good thing however, because this means Ally Invest can keep their overhead costs lower and deliver more value to their clients. Another notable difference is thinkorswim, TD Ameritrade’s flagship trading platform.

Although Ally’s platform isn’t downloadable, the web-based platform is highly capable of complex options orders, and thinkorswim isn’t worth paying nearly double on every trade in our opinion.

Trading platforms for options, stocks, bonds, futures, and forex are all free at Ally. You will have to login to Ally’s subsidiary, MB Trading, to complete futures and forex orders. But still, Ally’s futures commission rate starts at $0.85, where as TD Ameritade’s rate starts at $1.50.

Simply put, regardless if you trade actively or passively, you’ll save a significant amount of money by choosing Ally Invest, and you won’t lose out on anything, because you’ll get all of the same features that TD Ameritrade offers.

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